Reuters reported that Dunkirk aluminium smelter in northern France is to reduce production by 15% in response to soaring electricity prices. The smelter at Dunkirk, which has annual capacity of about 285,000 tonnes, has already cut output by 10% and will reduce it by a further 5% this weekDunkirk is one of several aluminium plants in Europe to lower production since last month in response to record electricity prices that have hurt margins for the energy-intensive industry.Dunkirk obtains about 60% of its electricity through a preferential rate scheme, but is exposed to market prices for the remaining 40%.Private equity firm American Industrial Partners acquired the Dunkirk smelter last year following a debt default by a unit of previous owner GFG Alliance. The takeover is being challenged by GFG, which is owned by commodities tycoon Sanjeev Gupta.
Reuters reported that Dunkirk aluminium smelter in northern France is to reduce production by 15% in response to soaring electricity prices. The smelter at Dunkirk, which has annual capacity of about 285,000 tonnes, has already cut output by 10% and will reduce it by a further 5% this weekDunkirk is one of several aluminium plants in Europe to lower production since last month in response to record electricity prices that have hurt margins for the energy-intensive industry.Dunkirk obtains about 60% of its electricity through a preferential rate scheme, but is exposed to market prices for the remaining 40%.Private equity firm American Industrial Partners acquired the Dunkirk smelter last year following a debt default by a unit of previous owner GFG Alliance. The takeover is being challenged by GFG, which is owned by commodities tycoon Sanjeev Gupta.
